News

No Central Figure Controls Bitcoin – James Lopp

The Development of the most popular digital currency in the world, Bitcoin is not up to any person, individual or group. A Bitcoin veteran, James Lopp shared the information in a recent blog post. The crypto enthusiast explained in details the running and development of Bitcoin, while also trying to answer the questions of people who are criticizing the Bitcoin core, amidst other Bitcoin-related topics.

Bitcoin Development Is Not the Sole Responsibility of Anybody

Bitcoin is by far the most sought-after Cryptocurrency in the world, and as such attracts more questions than the other digital currencies. The Development of Bitcoin is one of the basic questions on the minds of most Bitcoin enthusiasts and investors.
On hand to shed more light on the mystery is a Bitcoin veteran, who has been around since the birth of Bitcoin and has contributed his quota in the development of the virtual currency. The veteran James Lopp in a recent Blog post insisted that there is no central figure in the development of Bitcoin, and no group or individual can lay claim to the progress or popularity of the cryptocurrency.
The central point throughout Lopp’s post remains how Bitcoin core reaches a consensus on whether or not it will merge new code proposals into the Github repository. Lopp clarified that while the core has ‘’maintainer’’ accounts that have the basic ability to merge code into the master branch, their duty is more janitorial than authoritative.

“While these keys are tied to known identities, it’s still not safe to assume that it will always be the case — a key could be compromised and we wouldn’t know unless the original key owner notified the other maintainers,” Lopp wrote. “As such, the commit keys do not provide perfect security either, they just make it more difficult for an attacker to inject arbitrary code.”

Lopp also stated that the code had been verified using the PGP keys into the Bitcoin mainframe is prone to auditing. He also maintained that developers could run an integrity check on their machine.

“If the script completes successfully, it tells us that every line of code that has been changed since that point has passed through the Bitcoin Core development process and been “signed off” by someone with a maintainer key,” Lopp asserted.

The Security Model Governs Bitcoin

Lopp stressed that the security model is the foundation for Bitcoin bottom-up governance and not dependent on anybody or organizational approval or validity.’
The decentralized feature of Bitcoin remains one of its biggest selling point and one that makes it the most recognizable cryptocurrency in the world.

Related posts
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Litecoin, VeChain, Basic Attention Token Price Analysis: 14 February

Litecoin showed some exhaustion above the $221 level but stabilization at that mark was healthy in the long-term. VeChain moved within an ascending channel but threatened a breakdown, while BAT entereThe post Litecoin, VeChain, Basic Attention Token Story continues on…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Barstool Sports’ Dave Portnoy regrets missing out on making $5 million worth of Bitcoin

Ever so often, the price of Bitcoin makes a commendable upsurge, and skeptics backpedal on their previously bearish take. It happened to the singer Lily Allen, who would’ve been richer than the queen of England, had she said yes to…
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Chainlink, Cosmos, Zcash Price Analysis: 14 March

Chainlink’s brief recovery above $28.5 support was quickly negated by the sellers, who targeted the aforementioned level at the time of writing. ATOM threatened to break lower from $18.7 support, whilThe post Chainlink, Cosmos, Zcash Story continues on AMB Crypto